New Physical Bitcoin: This Represents a New Standard Folks

[BTCINVESTOR]

They are licensed and owned by Ambicash, LLC. Pretty sure.

[fatnlovelyfred]

Looks beatiful, great piece of art!

[BurtW]

Got mine.  They are beautiful!

[BTCINVESTOR]

Got mine. Here is one of them...



I am very pleased.

[htimsxela]

These looks nice, but I agree about the physical engraving - as 'cheesy' as a hologram sticker can look, I think it is still the best method to date. I think a lot of people who are into coins and collectibles will be fine with keeping it in a tamper-proof case and leaving it on a shelf, but many other people will be interested in a coin that they can physically handle - a neat token of bitcoin history, even if handling it does diminish value.

It seems your goal is to create high quality collectibles, that is fine in itself, but many highly collectible pieces become collectible after their inception. It feels less authentic to make this a business plan right from the start.

Honestly though, I don't mean to be negative, just my two cents! Obviously you've put in a lot of time and effort creating these pieces, best of luck with the project!

[blink.blonk.01]

Can someone explain to me how this coin protects against me making a similar coin (for 2oz of silver = $40), placing it in a plastic case, slapping some holograms on it, and then claiming I have a 2BTC coin? It would appear that the physical value of the item is less than $100, but the BTC value is over $1500. Therefore if I can spend $1000 to forge a $100 coin/case, I have just made $500.

[BurtW]

When buying items like this you must totally trust the source of the item.  I have to trust that in fact there is a private key on the coin.  If it is not there I am screwed.  This is true for the holographic sticker coins as well.  If you put out fake coins all you have to do is get people to trust you and then rip them off.  Yep.

[BurtW]

We do need at least one wealthy individual, goat?, to pick one at random, break it open and report back the results here.  I say wealthy because they will destroy about 1 BTC in value just to test the seller.  

[blink.blonk.01]

In this case, it means that it will be impossible to resell these. Because say "John" buys a valid coin (containing the 2BTC) and is perfectly honest, when he tries to resell it to me, I have no idea if John is selling a real coin or a fake coin. Therefore these are only useful for personal cold storage and can never be resold.

[BurtW]

In this case, it means that it will be impossible to resell these. Because say "John" buys a valid coin (containing the 2BTC) and is perfectly honest, when he tries to resell it to me, I have no idea if John is selling a real coin or a fake coin. Therefore these are only useful for personal cold storage and can never be resold.

Very difficult to resell, probably.  I know people that will buy them from me because they trust me.  But then they might have a harder time because the chain of trust gets longer.

[BTCINVESTOR]

Received the remainder of mine...



Again, I am related to the artist so passing these on to my children will have personal meaning for me.

[BurtW]

Has anyone cracked open a random one to see if it has the private key?

[htspringer]

Has anyone cracked open a random one to see if it has the private key?

I'm sure some of these coins will be redeemed.  If the private key isn't there, it will become public news pretty quick.  Why does everyone trust Casascius coins?  Since so many have redeemed, it is logical to assume that Mike Caldwell did defraud anyone.
   I bought an Adam Smith coin.  I can tell you that this would be difficult to counterfeit, so the chain of custody is far less critical for resale than other physical bitcoins.  Furthermore, making a custom made case such as they have would cost literally thousands of dollars for a mold...not to mention they have a very unique method of sealing the case that they haven't disclosed. Also, they have a proprietary cipher system for each case.  This means than you can take a photo of the case and coin, email it to the company... And they can determine if its legitimate vs counterfeit.  I seriously believe that if bitcoin reaches a value of $100,000, these coins would still be fairly safe from counterfeiting. 

[Stevenrm87]

BTC4.4008 each as of today

[BurtW]

BTC4.4008 each as of today

Where did you get that price?

[Warning__3]

BTC4.4008 each as of today

Where did you get that price?

[Stabic]

15TJRaPX9zpBA8LVnbrCYPzrVzN3ixHNsC

Nothing comes up on blockchain

[CoinHoarder]

Hi,

I'm wondering if the OP or someone from Alitin Mint can help me. I am failing to see how this is much of an improvement from tamper proof holograms. I am not trying to cause drama, I simply am wondering if I am thinking about it wrong. I know since I also make physical cryptocoins this will likely look like an attack of some sort, but I am genuinely worried about the security of your product and the claims you are making of how they are more secure than original physical Bitcoins with tamper proof holograms. I have spent many hours lately doing different experiments on how to improve security on the original design of physical Bitcoins, but I don't see this as a very good solution.

I think you guys protected the coin from the obvious... radiation techniques due to the engraved private key, but it seems to me the only line of defense against retrieving the private keys of these coins is the hologram on the coin case. Which as we know can likely be removed showing no to little signs using acetone, just like the older coins that you claim are inferior to yours. That defeats the whole sales pitch here.. minus the very attractive coin artwork. The process a bad actor could take is:

1. Have a replica of the plastic coin case made in China for $1-5 each
2. Remove the coin from the packaging and retrieve the private key from the edges of the coin.
3. Remove the hologram from the original coin case using acetone showing no to little signs of intrusion.
4. Print new labels, QR code, whatever is inside the coin case and put them in the new replica case.
5. Place the coin back in the replica coin case you had made and seal it.
6. Place the hologram on the coin case back where it should be like nothing happened.

I know Alitin says "you can send a picture by email and find out if it is counterfeit or not". However, I have a hard time believing that they do not do this by checking a certain security feature they added to their hologram. This is something that can be easily implemented in the old design of physical cryptocoins.. just a coin and a hologram.

I am just failing to see how this is any better. It would require a little more work to tamper with than a normal physical cryptocoin, but it is still doable IMO. Even at today's prices there is likely enough incentive (cost versus reward) to do this... imagine when Bitcoin really goes to the moon. Please prove me wrong, the reason for my post here today is purely academic and I wish Alitin Mint all the best. I hope I can make it to the Texas Bitcoin Conference to talk about this with you guys face to face and in depth. I only live a couple hours away so I think I can come.. I just have to see if I can get off work.

Thanks

[BTCINVESTOR]

15TJRaPX9zpBA8LVnbrCYPzrVzN3ixHNsC

Nothing comes up on blockchain

They said on there that was a simulated address for display purposes.

[newguy05]

In this case, it means that it will be impossible to resell these. Because say "John" buys a valid coin (containing the 2BTC) and is perfectly honest, when he tries to resell it to me, I have no idea if John is selling a real coin or a fake coin. Therefore these are only useful for personal cold storage and can never be resold.

Exactly they need some type of authentication on the coin, otherwise anyone can just contract one of hundreds of coin makers and have this made.

Also 2 btc premium over intrinsic is very high. I see this as purely a fun collectible/gift, not investment grade product.